In a report released today, Ryan Todd from Piper Jaffray reiterated a Buy rating on Continental Resources (CLR), with a price target of $50. The company’s shares opened today at $46.10.
According to TipRanks.com, Todd is a 1-star analyst with an average return of -1.4% and a 43.1% success rate. Todd covers the Basic Materials sector, focusing on stocks such as Range Resources Corp, Oasis Petroleum Inc, and Anadarko Petroleum.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Continental Resources with a $63.47 average price target, representing a 37.7% upside. In a report issued on January 16, Barclays also maintained a Buy rating on the stock with a $62 price target.
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Based on Continental Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $314 million. In comparison, last year the company had a net profit of $842 million.
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Continental Resources, Inc. engages in the exploration and production of crude oil and natural gas. Its operations are focuses on the MT Bakken; Red River Unites; STACK; Arkoma Woodford; SCOOP; and Other. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.
